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Next Which properties are preferred per province HOME • INSIDER • CYPRUS • Which properties are preferred by province
& nbsp & nbspΘεανώ Θειοπούλου & nbsp; & nbsp;
For each province of Cyprus, buyers have different preferences regarding the type of real estate they will buy (apartment, house, field or plot, shop or office). The processing of the data of the Cadastral Department by the Real Estate Registration Council shows that in the first quarter of 2022 in Paphos were recorded the most house sales (247), more than any other province, while in Nicosia it was 105 and in Limassol 55. b >
According to the data, a total of 5,258 sales were recorded in Cyprus, worth € 1,272,553,880. As expected, the announcement states, “Limassol and Nicosia are gathering the lion's share, while the other provinces are moving quite positively. The data also show the great interest that exists for land acquisition, since fields, plots and other plots are very high in the preferences of buyers, possibly as an alternative source of investment. At the same time, the data reflect the significantly increased demand for apartments. With the exception of Paphos province, in all other provinces the apartments sold were more than the houses “.
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According to the newsletter of the Real Estate Registration Council for the real estate market, the Cypriot market in the first quarter of 2022 has the following characteristics: & nbsp;
– In the province of Nicosia, a total of 1,574 transactions were recorded, with a total value of € 313,076,363. The largest volume of transactions concerned apartments (536), houses (108), fields (472), plots (269), offices (22), shops (15), land (72).
– In the province Limassol, both total sales (1,581) but mainly their value (€ 573,192,094) were higher than any other province. Particular interest was recorded for fields (688), plots (439), apartments (164), houses (55), offices (14), shops (28), land (10).
– In the province of Paphos, sales in the first quarter reached 887 and their total value was € 186,819,085. There was interest in houses (247), apartments (232), plots (154), fields (282), offices (2), shops (5), land (36).
– In the province of Larnaca, sales amounted to 958 and their total value to € 145,264,178. The interest was for plots (477), fields (255), apartments (179), houses (45), shops (18), land (50), offices (3). & Nbsp;
– In Famagusta province 258 operations were implemented, with a total value of € 54,202,160, with the interest being intense for fields (162). Following are apartments (47), houses (22), plots (18), shops (1), land (2) and no office sale took place. “The data show that the market continues to show an upward trend, despite the intense challenges that have been recorded in recent months. It proves once again the resilience of the market, but also the confidence shown in the sector by Cypriot and foreign buyers of real estate “. & Nbsp; & nbsp; & nbsp; Theano Theiopoulou